Bit Digital reports Q2 revenue rise, wider net loss
Bit Digital said second-quarter revenue rose 15% to $32.1 million, gross margin was 57.9%, and net loss widened to $107.2 million, while operating cash flow increased 33% to $46.8 million.
On Thursday, Bit Digital (NASDAQ: BTBT ) discussed second-quarter financial results during its earnings call.
The full transcript is provided below.
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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Bit Digital reported a 15% increase in second-quarter revenue to $32.1 million and a gross margin of 57.9%, but faced a net loss of $107.2 million, largely due to digital asset revaluation and interest expenses.
The company strategically used its Ethereum holdings to secure a $50 million liquidity facility for White Fiber, avoiding equity dilution while maintaining its Ethereum position.
Bit Digital remains focused on leveraging assets between digital finance (Ethereum) and AI infrastructure (White Fiber), with plans to execute buybacks to address perceived undervaluation in its stock price.
Operating cash flow rose by 33% year-over-year to $46.8 million, and the company held substantial cash and Ethereum reserves, totaling $83.6 million and 75,757 ETH, respectively.
Management emphasized the growing institutional adoption of Ethereum and their strategic asset model, aiming to transition from a digital asset treasury perception to a productive asset company model.
Full Transcript OPERATOR Hello and welcome to the Bit Digital second quarter 2026 earnings conference call.
We'll begin shortly.
During the call, all participant lines will be in listen-only mode.
Following management's remarks, we will open the line for questions.
If you'd like to ask a question at this time, please press star-1 on your telephone keypad.
As a reminder, today's call is being recorded.
I'll now turn the call over to your host, Daniel Kennedy, Head of Investor Relations at Bit Digital.
Daniel, please go ahead.
Daniel Kennedy, Head of Investor Relations Thank you and good morning.
Joining me today are Sam Tabar, Chief Executive Officer, and Eric Huang, Chief Financial Officer.
Before we begin, I'd like to remind everyone that today's discussion contains forward-looking statements.
These statements reflect management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.
For a discussion of these risks, please refer to our annual report on Form 10-K and our quarterly reports.
We assume no obligation to update these statements.
Certain matters discussed today, including potential capital allocation initiatives, remain subject to board and shareholder approval in accordance with Cayman Islands law.
Where applicable throughout the call, we may also refer to non-GAAP financial measures.
Reconciliations to the most directly comparable GAAP measures can be found in our earnings materials available on our website.
Unless otherwise indicated, figures discussed during these remarks are rounded for readability.
With that, I'll turn the call over to Sam.
Sam Tabar, CEO Thank you, Daniel, and good morning.
This quarter was about capital allocation.
Every decision started with the same question: How do we create the most long-term value from the assets already on our balance sheet? Bit Digital is positioned to secure the infrastructure for what we believe are the two most important sectors in the economy: digital assets, which will settle on Ethereum, and artificial intelligence, which is powered by data centers.
Ethereum is our position in the first, and White Fiber is our position in the second.
Two distinct assets connected by one capital allocation model.
Few companies offer meaningful exposure to both sides of that buildout, and fewer even still actively allocate capital between them.
Our conviction on Ethereum has not changed.
The price did.
Ethereum spent most of the quarter below 2,000, and I'm not going to pretend that was comfortable.